Vedanta Resources reduces net debt by $2 Bn in FY23, ahead of plans

Vedanta

Vedanta Resources Limited (Vedanta), the parent company of Vedanta Limited, India’s largest natural resources company, has deleveraged by $2 Bn in the past 11 months, thus achieving half of its $4 Bn 3-year debt reduction commitment in the first year alone.

Powered by robust domestic consumption in the fastest growing major economy, Vedanta is delivering healthy cash flows whilst maintaining disciplined capital allocation and has reduced net debt by $2 Bn, ahead of plans for this fiscal. During FY24/FY25, Vedanta will continue to deleverage from net debt of $7.7 Bn and plans to cover 50% of FY24 liquidity requirements internally and the balance through re-financing. Over the past 20 years, Vedanta has raised more than $35 billion through debt and equity and yielded highly attractive returns to shareholders, while maintaining an excellent track record of debt servicing.

Vedanta, a former FTSE 100 company, has an unparalleled portfolio encompassing: Zinc (world’s largest integrated producer), Aluminium (India’s largest producer of primary aluminium), Oil & Gas (India’s largest private producer of crude), Silver (6th largest producer globally), battery metals: Nickel (India’s sole nickel producer) & Cobalt, Copper, Iron Ore & Steel and Commercial Energy.

Vedanta’s next phase of growth will be fueled by its associated companies’ investments into Semiconductors (India’s first Semiconductor producer in collaboration with Foxconn), display glass (Avanstrate), renewables (through joint venture with KKR), optical fibre (fibre to home) and transmissions. Vedanta’s portfolio uniquely covers traditional and cutting-edge businesses.

Vedanta, a global organisation, is set to capitalize on India’s growth, stable governance, and the strength of 1.4 billion Indians increasing their reliance on domestic production. Vedanta Limited ranked 6th on the Dow Jones Sustainability Index in 2022, a towering jump of 14 places, and is uniquely positioned to deliver sustainable value on the back of its strong ESG performance.

Leave a Reply

Your email address will not be published.

Latest

Quantum Computing: Exploring the Quantum Frontier of Computation

​​​​   ​​​In the world of information technology, classical computers have created pathways to explore new paradigms. Technologies have evolved, and we are exploring better processes and ways to leverage upon data. Quantum computing finds its unique place in this sphere as a revolutionary technology that uses ‘qubits’ as its building blocks as opposed to […]

Read More
Latest

The AI Revolution: Shaping Our Social Landscape”

Artificial Intelligence better known as AI has seen a burst in popularity, from being covered extensively in the news articles to the recently published scientific journals AI has taken our world by a storm. It is not a newly discovered field, but has rather been around since the early 90’s. It is a term that […]

Read More
Latest

Parvaah 5.0: Rotaract Club of Smart City Navi Mumbai Joins Hands with Pack8 for Sustainable Packaging

Discover Parvaah 5.0: Rotaract Club of Smart City Navi Mumbai and Pack8’s Sustainable Partnership for Ozone Layer Protection and Plastic Cleanup. Learn how local initiatives like Parvaah 5.0 contribute to global environmental conservation efforts. Join us in the fight for a greener future! In a world grappling with environmental challenges, the Rotaract Club of Smart […]

Read More